FidoBiz offers you the flexibility to repay your credit in up to three equal monthly installments. This option is designed to make managing larger credit limits easier and more convenient for you.
Who Can Use Installment Repayments?
Installment repayment is available to customers who qualify based on their credit assessment and credit amount. If you're eligible, the option will be displayed in your Fido App.
How to Set Up Installment Payments
Kindly follow the steps below for installment credit:
1. Log into your Fido App.
2. Select the amount you need to draw.
3. Select the number of days you will want to repay the first installment.
4. On the next page, you will have the option to select multiple payment options by clicking in the box with the drop-down arrow with the "1 payment" option.
5. Select the number of installment plans available to you, then follow further procedure.
Kindly read and pay attention to every detail in the app for an easy credit application procedure.
Understanding the Terms & Conditions
- Installment payments are subject to the same interest rates as outlined in your credit agreement.
- Late or missed payments may result in additional fees.
- Paying on time helps you maintain a good repayment history and improves your chances of accessing better credit terms with Fido.
What happens if I miss an installment?
Missing an installment may result in extra fees and could affect your ability to access credit in the future. We recommend setting reminders to ensure timely payments.
Can I repay earlier than scheduled?
Absolutely. You can choose to pay off your balance earlier without any penalties. Simply log into your Fido App and make an early repayment. Our installment payment option is here to help you manage larger credit limits with ease. Making early repayment also gives you better credit terms with Fido.
Here's a short video on how to get installment credit with Fido